{"id":"neo-gas-gas","version":1,"language":"en","title":"Neo Gas (GAS)","hidden":false,"content":"**NEO Gas (GAS)** is one of two native tokens for the [Neo blockchain](https://iq.wiki/wiki/neo), designated as the fuel token, used to power transactions and execute [smart contracts](https://iq.wiki/wiki/smart-contract).[\\[1\\]](#cite-id-sensxv0io0s)[\\[2\\]](#cite-id-te1war22ao)  \n  \n# $$widget0 [YOUTUBE@VID](gw-XNrZbNW0)$$Overview  \n  \nWithin the [Neo network](https://iq.wiki/wiki/neo), GAS is intended to cover operational and storage costs for tokens and[ smart contracts](https://iq.wiki/wiki/smart-contract), aiming to deter node resource abuse. System fees undergo [burning](https://iq.wiki/wiki/token-burn), while network fees are designed to serve as incentives for consensus nodes. The minimum GAS unit is 0.00000001, and claiming doesn't mandate [NEO](https://iq.wiki/wiki/neo-token) staking. GAS distribution practices differ among exchanges. A significant portion is intended as a reward for voters actively engaging in network governance, requiring [NEO](https://iq.wiki/wiki/neo-token) holders to use a voting-supporting wallet for participation.[\\[3\\]](#cite-id-go4776mvtsv)[\\[4\\]](#cite-id-bmp33socxz)[\\[5\\]](#cite-id-n9q0zvm15e)  \n  \n# GAS Distribution to Users  \n  \nExchanges decide whether to distribute GAS, intending it as compensation to the [Neo blockchain](https://iq.wiki/wiki/neo) for recording and additional services. GAS, symbolizing the right to use the [Neo Blockchain](https://iq.wiki/wiki/neo), is systematically generated upon obtaining [NEO](https://iq.wiki/wiki/neo-token). In Neo N3, GAS is automatically claimed during [NEO](https://iq.wiki/wiki/neo-token) transfer transactions at an address. The claimed GAS amount is determined by a fixed formula based on the duration between a user's [NEO](https://iq.wiki/wiki/neo-token) transfers into and out of their address. For exchanges with consolidated addresses, the distribution process to a user is outlined, with precision improving in shorter snapshot intervals. Automatic GAS claiming occurs seamlessly as users transfer [NEO](https://iq.wiki/wiki/neo-token) into or out of their addresses.[\\[6\\]](#cite-id-0gm6nsz2dnfd)  \n  \n# Migration  \n  \nN3, an upgraded version of [Neo](https://iq.wiki/wiki/neo), introduced improvements in development experience, features, and economic models. Certain features are not compatible with [Neo Legacy](https://iq.wiki/wiki/neo), leading to the N3 upgrade through a new [genesis block](https://iq.wiki/wiki/genesis-block), coexisting with [Neo Legacy](https://iq.wiki/wiki/neo) for an extended period. Users can migrate [NEO](https://iq.wiki/wiki/neo-token) and GAS tokens from [Neo Legacy](https://iq.wiki/wiki/neo) to N3 at a 1:1 ratio using a [Neo](https://iq.wiki/wiki/neo) N3-compatible wallet or supported exchange. Migration involves creating a new address on N3, sending tokens to a migration contract, and receiving equivalent tokens in the new address. Options include native migration support in wallets or using exchanges (with timeframes beyond [Neo's](https://iq.wiki/wiki/neo) control). A migration deadline will eventually exist, remaining open as long as the [Neo Legacy network](https://iq.wiki/wiki/neo) is operational. Fees apply on N3 for amounts below 10 [NEO](https://iq.wiki/wiki/neo-token) or 20 GAS and on Neo Legacy for complex transactions. N3 does not adopt the [UTXO model](https://iq.wiki/wiki/unspent-transaction-output-utxo).[\\[7\\]](#cite-id-ql80lg5sqh)  \n  \n# Allocation  \n  \nInitially, 5 GAS tokens per block are generated and distributed to the [Neo](https://iq.wiki/wiki/neo) Committee, [NEO](https://iq.wiki/wiki/neo-token) voters, and all [NEO](https://iq.wiki/wiki/neo-token) holders. The distribution follows these rules:  \n  \n* **[NEO](https://iq.wiki/wiki/neo-token) Holders (10%)**: GAS is calculated and distributed to [NEO](https://iq.wiki/wiki/neo-token) holders based on their holding period after completing NEO transfers or voting.  \n* **Committee & Consensus Nodes (10%)**: This portion rewards the 21 committee members managing the [Neo blockchain](https://iq.wiki/wiki/neo). Every 21 blocks (Epoch), votes are recalculated, and shares are redistributed. The speaker also receives network fees for the current block's transactions.  \n* **Voters (80%)**: The majority of GAS incentivizes [NEO](https://iq.wiki/wiki/neo-token) holders to vote for committee members. Rewards, calculated and distributed during each 21-block epoch, are divided by 28 (21 for committee members, 7 for consensus nodes). Voters for elected consensus nodes get 2/28, while voters for non-consensus committee members receive 1/28 of this portion.[\\[8\\]](#cite-id-qluln1ltn1)","summary":"Neo Gas (GAS) is the fuel token for the Neo blockchain, used to power transactions, execute smart contracts, and incentivize network governance participation.","categories":[{"id":"cryptocurrencies","title":"Cryptocurrencies"}],"promoted":0,"tags":[{"id":"Protocols"},{"id":"Blockchains"}],"metadata":[{"id":"references","value":"[{\"id\":\"sensxv0io0s\",\"url\":\"https://developers.neo.org/docs/n3/foundation/Native%20tokens\",\"description\":\"NEO native token\",\"timestamp\":1701765554623},{\"id\":\"te1war22ao\",\"url\":\"https://www.binance.com/en/research/projects/neogas\",\"description\":\"Binance || NeoGas\",\"timestamp\":1701767268566},{\"id\":\"go4776mvtsv\",\"url\":\"https://neo.org/neogas#tokens\",\"description\":\"neo gas token\",\"timestamp\":1707074834256},{\"id\":\"bmp33socxz\",\"url\":\"https://developers.neo.org/docs/n3/foundation/Native%20tokens\",\"description\":\"N3 docs native token\",\"timestamp\":1707074848262},{\"id\":\"n9q0zvm15e\",\"url\":\"https://tokeninsight.com/en/coins/gasgas1/tokenomics\",\"description\":\"tokeninsight GAS\",\"timestamp\":1707074858550},{\"id\":\"0gm6nsz2dnfd\",\"url\":\"https://docs.neo.org/docs/en-us/exchange/gas.html\",\"description\":\"neo docs distribution\",\"timestamp\":1707074961759},{\"id\":\"ql80lg5sqh\",\"url\":\"https://neo.org/migration\",\"description\":\"neo migration\",\"timestamp\":1707075249314},{\"id\":\"qluln1ltn1\",\"url\":\"https://docs.neo.org/docs/en-us/basic/governance.html\",\"description\":\"docs - neo governance \",\"timestamp\":1707075266325}]"},{"id":"website","value":"https://neo.org/"},{"id":"facebook_profile","value":"https://www.facebook.com/NeoBlockchainOfficial"},{"id":"twitter_profile","value":"https://twitter.com/neo_blockchain"},{"id":"discord_profile","value":"https://discord.gg/rvZFQ5382k"},{"id":"reddit_profile","value":"https://www.reddit.com/r/NEO/"},{"id":"github_profile","value":"https://github.com/neo-project"},{"id":"coinmarketcap_url","value":"https://coinmarketcap.com/currencies/gas/"},{"id":"coingecko_profile","value":"https://www.coingecko.com/en/coins/gas"},{"id":"medium_profile","value":"https://neo-blockchain.medium.com/"},{"id":"commit-message","value":"Added four (4) social links."},{"id":"previous_cid","value":"QmUcoAk2ino9aZeYR12VKkEvxYYQYJmsC34N25TVjzvXEv"}],"user":{"id":"0xaC0f4c152e3E61A6a29Db9ffED725fc72E47c7A4"},"author":{"id":"0x6BDfFD701FaAF21A84a766E9e52695AE8faC1A94","profile":{"username":"FEROZ","avatar":""}},"media":[{"name":"gw-XNrZbNW0","id":"https://www.youtube.com/watch?v=gw-XNrZbNW0","size":"0","type":null,"source":"YOUTUBE"}],"views":90,"events":[],"linkedWikis":null,"ipfs":"QmUcoAk2ino9aZeYR12VKkEvxYYQYJmsC34N25TVjzvXEv","transactionHash":"0xb70f2c1ccab5cf211256bda464cc07c130879c90b64065056eb85d7373a896cd","created":"2023-12-05T11:32:32.764Z","updated":"2024-02-04T21:55:32.173Z","images":[{"id":"Qmb1pVPpKofYKYWPqQMn3FY1fJ32kjyf75fArJVXwzBmsL","type":"image/jpeg, image/png"}]}